Sammanfattning

This article analyses the effects of myopic and present-biased preferences on the welfare of a naive agent when he/she is engaged in an intertemporal harvesting activity from a stock of renewable resources. The analysis is conducted by also taking into account the nature of present-biased behaviours as phenomena that is derived from a dual system of discounting and of response to short and long-term stimuli.In the task of harvesting from a stock of renewable resources, the present biased preferences of a naive agent create a conflict between the long-run benefit of the agent and the short-run desire.Thus, this article demonstrates and argues that in the decision-making, which involves intertemporal choices in renewable resources management, the prevalence of naive behaviour, strongly influenced by the emotional-affective system, can lead to a reduction in the overall utility enjoyed by the individual due to the present bias.

Nyckelord

Present bias; naive agent; intertemporal choice; harvesting; dual system discounting

Publicerad i

Journal of Interdisciplinary Economics
2024, Volym: 36, nummer: 1, sidor: 79-97
Utgivare: SAGE PUBLICATIONS INDIA PVT LTD

SLU författare

• Persichina, Marco

  • Institutionen för skogsekonomi, Sveriges lantbruksuniversitet
    
  • Umeå Universitet

UKÄ forskningsämne

Nationalekonomi


Publikationens identifierare

DOI: https://doi.org/10.1177/02601079221088072

Permanent länk till denna sida (URI)

https://res.slu.se/id/publ/123347